Tata Motors (NS: TAMO ) flourished as the top Nifty gainer with its share price hitting a 52-week high at Rs 429.35 at 10:00 am on Tuesday, after announcing its earnings results for Q2 FY22. Jaguar Land Rover sales were up 24% YoY at 2,51,689 units.
Moreover, the global sales of all the commercial vehicles belonging to Tata Motors rose by 57% at 89,055 units for the same period.
While sectors indices like auto, FMCG, metal, pharma and healthcare gained, other sectors offset these gains.
Bajaj Auto (NS: BAJA ), Titan (NS: TITN ), Eicher Motors (NS: EICH ), Hindalco, ITC (NS: ITC ), Hero MotoCorp (NS: HROM ), Cipla (NS: CIPL ), Tata Steel (NS: TISC ), JSW Steel (NS: JSTL ), SBI (NS: SBI ) and Wipro (NS: WIPR ) were the top gainers.
On the other hand, IT giants like Infosys (NS: INFY ), M&M (NS: MAHM ), HCL Tech (NS: HCLT ), and other stocks including ICICI Bank (NS: ICBK ), Indian Oil (NS: IOC ), Shree Cements (NS: SHCM ), Adani (NS: APSE ) Ports, SBI Life, IndusInd Bank (NS: INBK ) and Coal India (NS: COAL ) were the top losers.
Flat Nifty and Sensex can be credited to the drop in Asian shares, resulting from a global energy crunch. Inflation fears are having an effect on investors’ sentiments.
Furthermore, given skyrocketing gains in global oil prices which hit multi-year peaks, there are fears instilled across markets about soaring prices and stricter monetary policies.
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